Interest rates are still low and new auto sales are expected to increase until 2017. As sales increase, so is the average length of car loans. Some analysts warn that this can be trouble for consumers. Read More Americans Opt For Risky Long-Term Car Loans(http://www.npr.org/2015/03/19/393642148/more-americans-opt-for-risky-long-term-car-loans)

Explain these following:

What are the pros and cons of longer term loans for the consumer?

What are the pros and cons of longer term loans for car sellers and lenders?

According to Experian, the average new car loan amount was $28,524 during the second quarter. Do a little research and find current interest rates for car loans in the US. Calculate the difference in interest paid over the life of a 36-month loan versus a 72-month loan.

What do you usually focus on when considering an installment loan, the monthly payment or the total cost over the life of the loan? Why? Has the article changed your mind?